Half-yearly profits of Abano Healthcare have gone down and the company says that the conditions are still very challenging and would be the same.

For six months ending November, the listed firm saw its profit at $2.8 million, 1/5 of the same last year. Revenues also declined by 15 per cent to be at $86.7 million.

When asked about the condition, chairperson of Abano, Alison Paterson said that since business and consumer confidence has been subdued during most part of the year. This same condition is expected to be carried forward to the next year and that is what means the real trouble. This is so since the economic and trading conditions are still very vulnerable.

While it has been considered that healthcare is protected from economic downturns, many areas like the one the company is in have faced discretionary spending since the economic downturn.

Shares of Abano fell 0.4 per cent to $4.85. This means that this whole year the share has gone down by 22 per cent. Despite this, the company has given its first-half dividend that has been 7.3 cents.